The annual index compares prices of more than 200 everyday products and services such as food, clothing, rent and transport in 172 cities around the world. In Western Europe, price increases were mainly attributable to rising gas prices, as well as the unequal valuation of the euro, as cited by the EIU. However, the roundup also includes four European cities: Zurich, Geneva, Paris and Copenhagen. As shown by our chart, Los Angeles and San Francisco are also among the world’s most expensive metropolises. This partly comes down to the United States’ high rates of inflation this past year. This is the first time New York City has topped the list. In this edition, New York and Singapore jointly top the rankings as the world's most expensive cities to live in, while last year's number one, Tel Aviv, now ranks in third place. The Economist Intelligence Unit (EIU) has recently published its Worldwide Cost of Living Index for 2022.
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